Despite market uncertainties, there has been increased take-up of new private residential properties. The quarterly take-up of 2,552 units of uncompleted private housing in first quarter of 2009 is more than six times the take-up in the fourth quarter of 2008, and the highest since the third quarter of 2007. -- PHOTO: BT
THE Government will continue to suspend the sale of confirmed sites from its land sales programme for the second half of this year.
This is due to 'prevailing market uncertainties', said the Ministry of National Development in a statement on Wednesday.
It first suspended such sales last October due to the global crisis and weakening economic conditions.
There was otherwise minimal changes in the Government land sales programme for the second half of the year.
Almost all the 'reserve list' sites available for sale in the first half of this year have been carried to the second half.
There will also be two new reserve list sites - a residential sites at Bartley Road and a commercial cum residential one at New Upper Changi Road.
Sites on the reserve list are only put up for tender if a developer indicates his interest by committing to a minimum bid.
Supply from other Government agencies include 28,000 sq m of gross floor area of commercial space.
